Iowa Code 97B.49I – Qualified benefits arrangement
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Terms Used In Iowa Code 97B.49I
- Internal Revenue Code: means the Internal Revenue Code as defined in section 422. See Iowa Code 97B.1A
- Rule: includes "regulation". See Iowa Code 4.1
- System: means the Iowa public employees' retirement system. See Iowa Code 97B.1
The system, by rule, may establish and maintain a qualified benefits arrangement under section 415(m) of the federal Internal Revenue Code. The amount of any annual benefit that would be payable pursuant to this chapter but for the limitation imposed by section 415 of the federal Internal Revenue Code shall be paid from a qualified benefits arrangement established and maintained pursuant to this section.